Presently, solutions and systems for identity security are insufficient. Several examples of distinct and related problems that compromise security exist.
“For example, passwords are inherently insecure for multiple reasons. People use the same (or a few) passwords across multiple sites. Consequently, a compromise or hacking at one website with poor security practices leads to compromise of the user's accounts at other sites where the user has used the same password. Various websites offer username-password credentials for sale.
Another example is identity theft resulting from information that has been obtained by hacking or compromises in web sites. The identity theft results from leaked information such as SSN, date of birth, etc. that criminals use to open accounts and credit cards. Millions of consumers have been victims of identity theft.
Present solutions are inefficient or attempt to merely provide a patch or temporary solution. A need exists for a fundamental redesign of the identity system and software solutions.